Rising Demand for Electric Cars Could Mean More Jobs

When Elon Musk, the founder and CEO of Tesla Motors, first introduced his version of the electric car, the electric car industry seemed to be stalling. According to the International Energy Agency, in 2005, electric cars had yet to break 1,000 units.

However, the IEA reported that sales for electric cars exceeded 2 million units in 2016, a 60 percent spike from the year previous. In its outlook of the electric car, the IEA noted the potential for job creation to meet the needs brought on by more electric vehicles taking to the road.

To accommodate the growing number of electric vehicles, public infrastructure will need to include more public charging ports. In addition, the lower cost of batteries could lower the cost for producing these vehicles. Several countries, including the U.S. and the U.K., see the potential of electric vehicles. The Birmingham Mail reported that 10,000 jobs could be created to meet the growing demand.

“Now, we have a golden opportunity to reinvent ourselves as the global centre for self-driving, connected and electric vehicles,” said Mayor Andy Street to the publication.

Tesla’s latest model is just one of many EV cars working to satisfy their customers.

The increased popularity of electric vehicles could have significant economic impact.